ChainCatcher News reports that the Arizona Senate has advanced Bill SB 1649, which proposes establishing a “Digital Asset Strategic Reserve Fund” managed by the state treasury. The bill authorizes the state treasurer to hold, invest, and lend seized, forfeited, or surrendered digital assets through qualified custodians or regulated exchanges.
The bill was approved by the Senate Finance Committee on February 16 with 4 votes in favor and 2 against, and received approval from the Senate Rules Committee. It will be submitted for a full Senate vote. The bill explicitly designates Bitcoin, XRP, DigiByte, stablecoins, and NFTs as qualified assets. It sets a 1% baseline threshold based on Bitcoin reaching $100,000 per coin and uses a “Cryptocurrency Fair Value Score” to evaluate other qualified digital assets. The bill emphasizes that these operations must not increase the state’s financial risk. SB 1649 must first be approved by the Senate, then submitted to the House, and finally signed by the governor.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Liquidation Cascade: $2.054B Long Liquidation at $74,880, $1.224B Short Liquidation at $82,692
Coinglass data show BTC below $74,880 could trigger $2.054B in long liquidations on major CEXs; BTC above $82,692 could trigger $1.224B in short liquidations.
GateNews22m ago
Bitcoin and Ethereum Spot ETFs Record Consecutive Net Inflows; BTC ETFs Reach $99.08B in Assets
Abstract: Bitcoin and Ethereum spot ETFs posted net inflows on Apr 21, extending multi-day streaks. BTC inflows were led by BlackRock’s IBIT and Grayscale, with GBTC outflows; ETH inflows were led by ETHA, with ETHE outflows.
Summary: Bitcoin and Ethereum spot ETFs posted Apr 21 inflows, extending gains; BTC led by IBIT and Grayscale with GBTC outflows, NAV $99.08B (6.54%). ETH inflows topped by ETHA, ETHE outflows; NAV $13.66B, inflows $12.05B.
GateNews1h ago
Expert Observes a Bullish 90-Day Bitcoin Pattern Repeating, BTC Could Hit $145,000 ATH Target
Expert observes a bullish 90-day Bitcoin pattern repeating.
He declares accumulation phase complete and expects manipulation phase to start.
BTC could hit $145,000 ATH target in the final distribution phase.
The crypto market has been moving in an upwards direction after weeks of
CryptoNewsLand1h ago
GSR Launches First Multi-Asset Crypto ETF, BESO, on Nasdaq with BTC, ETH, SOL Holdings
GSR launches the first actively managed multi-asset crypto ETF (BESO) on Nasdaq, exposing BTC, ETH, and SOL with integrated staking and weekly rebalancing for a 1% fee.
Abstract: GSR has launched its first multi-asset crypto ETF, the GSR Crypto Core3 ETF (BESO), on Nasdaq. The fund holds Bitcoin, Ethereum, and Solana and offers integrated staking within the fund, alongside active management with weekly rebalancing and a 1% management fee. This marks GSR's expanded foray into crypto ETFs and asset management services, signaling the growing adoption of actively managed, staking-enabled crypto vehicles in the U.S.
GateNews1h ago
American Bitcoin Powers On 11,298 Additional ASIC Miners
Gate News message, April 22 — American Bitcoin, a Bitcoin mining company backed by the Trump family, announced it has brought 11,298 additional ASIC miners online.
The company distinguishes between total mining hardware holdings, which
GateNews1h ago
$78,000 BTC Price Support Level Reclaimed, Bitcoin Could Be Entering Bullish Reversal Stage
Bitcoin reclaiming $78k fuels a bullish reversal narrative and potential altseason, with bulls eyeing new ATHs up to $126k–$140k while bears warn of a fake pump before a cycle bottom.
Abstract: The article discusses Bitcoin reclaiming the $78,000 level as a potential bullish reversal that could spur altcoin rallies, outlining bullish and bearish forecasts, possible new ATHs, and rising market optimism.
CryptoNewsLand4h ago
